Blog

Global e-Invoicing Services is in Growth Mode

by Kevin Benedict

March 9, 2011

?I just read about the 2010 growth numbers for one of the leading global e-invoicing companies. They were an impressive 30 perceny year-over-year. What is even more impressive is they were able to sustain that growth through the recession. This growth was due to both new customers and increased e-invoicing by existing customers. Their transaction volume increased by 54 percent year-over-year.

New e-invoicing mandates all across Latin America may be one of the reasons for growth in the e-invoicing services business. As reported in an earlier blog, Crossgate, a company co-owned by SAP, just announced they added 11 new global companies to their Mexico e-Invoicing services business. Mexico had a January 1, 2011, deadline, and Argentina has an April 1, 2011, deadline which certainly creates a sense of urgency in the market.

Let's talk a little more about these deadlines. I have been working in the e-invoicing world for some time now, and there seems to always be new deadlines. How can the IT department execute their own strategic initiatives, when they are always being forced to support a new mandate or requirement from the national tax authorities? Yikes! How do you manage an IT development budget and schedule when you are always being distracted by new requirements.

I think working with a global e-invoicing services bureau sounds pretty good right now. In fact, a lot of global companies are feeling the same way which is why we are seeing such growth in the e-invoicing services market.

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